Nigeria's FastCash Celebrates 2m Personal Loans Worth 59bln

FastCash, the fastest-growing instant loan solution in Nigeria, has hit its two millionth loan disbursement. All the loans disbursed by the platform are worth N59 billion and have helped customers from different walks of life meet urgent financial needs and achieve their short-term objectives.

This milestone is particularly significant because of its financial inclusion benefits. Every FastCash loan closes the access to finance gap in Nigeria and ensures the well-being of a Nigerian household.

Commenting on this achievement, the Divisional Head, Personal Banking of FCMB, Mr Shamsideen Fashola, said, “the amount of trust placed in FastCash by our customers is humbling. We will continue improving on this product to deliver exceptional customer experience. The success we have achieved thus far is a testament to our commitment at FCMB to support our customers through financial technology products that are convenient and accessible”.

Launched by First City Monument Bank (FCMB) in 2018, FastCash is a personal digital loan product that makes credit up to N200,000 available to existing customers and non-customers of the Bank in less than five minutes. Customers can conveniently access the loan through the FCMB New Mobile App or by simply dialling the Bank’s 32911.

In addition to FastCash, FCMB also offers a Salary Plus Loan, a consumer credit scheme available to salary account holders. Through this scheme, qualified FCMB customers can access short or medium-term funding before salaries to meet urgent needs, such as school fees payment for their children. Existing customers on Salary Plus can also top up their loans when they require additional financial support.

April 27, 2022